Kubota vs Deere Insurance

[TX Chris]

The Kubota insurance policy is not a monthly fee - it is listed as a line item on the invoice. You pay for it whether you use it for 3 months or the full legnth of the note. My L3901/LA525/BH77 included a line item for roughly $3,600 for the insurance policy. I chose not to pay extra on the tractor simply to take full advantage of the insurance policy. It's a 7 year note at zero percent interest so there is no real advantage to paying it off early and the downside is losing the insurance when it's paid off.

This worked in my favor as my tractor and FEL were just lost to a fire and the Kubota insurance policy is basically buying them back from me for what I paid for them. The backhoe was not on the tractor so they're only replacing the subframe and any hydraulics on the tractor that came with the BH (if any?).

I am replacing the tractor with an MX5400 and plan to do the same 7 year financing if they still offer it.

Quoting myself to offer a correction: my salesman told me today that the KTAC insurance is refunded if you pay the loan in full early, at a pro-rated amount. Finance for 84 months and pay it off in say 60 months, they give you back 24/84 (28%) of the insurance premium you paid up front.

It is my understanding that you cannot carry KTAC insurance unless your tractor/mower/RTV/etc is currently financed with Kubota Credit.

 

[beckmurph]

It is my understanding that you cannot carry KTAC insurance unless your tractor/mower/RTV/etc is currently financed with Kubota Credit.

KTAC has insured my B2650 and BH77 for 5 years and the equipment was paid off in 2015.

I paid the KTAC ins bill annually.

 

[GeoMart]

Going through the financing now on a new Kubota tractor-
Interested to hear real world experience on what claims people have made/vs the yearly premium from Kubota.
Is it worth it or would a lesser HOwners policy suffice for a catastrophic event?

 

[MessickFarmEqu]

Even an elementary look online and you'll find the claims experience is very different between these companies. You get what you pay for with insurance. there is a reason you'll find so many people champion Kubota KTAC. It actually pays for things, and the claims experience is unmatched.

 

[beckmurph]

Going through the financing now on a new Kubota tractor-
Interested to hear real world experience on what claims people have made/vs the yearly premium from Kubota.
Is it worth it or would a lesser HOwners policy suffice for a catastrophic event?

Suppose you are bush hogging an unattended field next to your property. Not your property.

Tree falls on your tractor and crushes it while your picking up limbs away from your tractor.

Your homeowners will not cover it.

KTAC will cover damage to your equipment.

 

[Johnkn]

It is my understanding that you cannot carry KTAC insurance unless your tractor/mower/RTV/etc is currently financed with Kubota Credit.

No Sir, If you have KTAC on a Kubota-financed piece of equipment, when you pay the equipment off KTAC will send multiple letters allowing you to extend the KTAC on your own. I recall they sent me (4) offers to extend on my own.

 

[Johnkn]

Suppose you are bush hogging an unattended field next to your property. Not your property.

Tree falls on your tractor and crushes it while your picking up limbs away from your tractor.

Your homeowners will not cover it.

KTAC will cover damage to your equipment.

Exactly, homeowners insurance covers very little if anything on a tractor. If's it's totaled while transporting, you roll it, tweak the FEL, split the trans, etc., etc., etc., you are out of luck, where KTAC basically covers all perils.

 

[GeoMart]

Suppose you are bush hogging an unattended field next to your property. Not your property.

Tree falls on your tractor and crushes it while your picking up limbs away from your tractor.

Your homeowners will not cover it.

KTAC will cover damage to your equipment.

I understand the what ifs- but actual experience- my tractor will not leave my property. My HO will cover an accident on my property, and for $70 a yr cover me off property. At this point I may stick with HO.

 

[GeoMart]

I understand the what ifs- but actual experience- my tractor will not leave my property. My HO will cover an accident on my property, and for $70 a yr cover me off property. At this point I may stick with HO.

I think if I had big projects to do maybe the kubot insurance would be worth it. I haven’t picked up the tractor yet so I may go with Kubota- just weighing my options.

 

[beckmurph]

$1.30 per thousand.